AXIL repurchases ~207.7M Series A Preferred shares for $1.25M cash; 42.3M remain

Axil Brands, Inc.

Repurchased 207,748,250 Series A Preferred (equiv. ~10,387,413 common shares) for $1,246,489.50 cash.
Sellers: Teton 360, LLC (142M shares, $852k) and The Williams Family Irrevocable Trust (65.7M shares, $394k).
Repurchase funded from cash on hand; Board approved; after transaction 42,251,750 Preferred remain outstanding.
Weston Harris, manager of Teton 360, is a consultant of the company.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Axil Brands, Inc. entered into Repurchase Agreements with stockholders of the Company listed on the signature pages valued at $1,246,489.50 (effective 2024-03-05).

Action: entry
Agreement: equity purchase
Counterparty: stockholders of the Company listed on the signature pages
Value: $1,246,489.50
Effective: 2024-03-05

Exact text from the filing

Effective as of March 5, 2024, AXIL Brands, Inc. (the “Company”) entered into repurchase agreements (the “Repurchase Agreements”) with the stockholders of the Company listed on the signature pages thereto (the “Stockholders”) to purchase from the Stockholders in the aggregate 207,748,250 shares of Series A Preferred Stock of the Company (equivalent, in the aggregate, to approximately 10,387,413 shares of the Company’s common stock on an as converted basis) for the aggregate cash consideration of $1,246,489.50.

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Axil Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001520138-24-000102

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